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Chart of the USD/BTC trading pair from EXANTE
Ether (ETH) also declines by 2.30% down to $1,586. Cardano (ADA) dropped in price more than others by 7.73% down to $1.15. Analysts at FxPro say the pressure on bitcoin (EXANTE: Bitcoin) from the technical view has intensified amid a weakening of RSI upside momentum. Often, this situation indicates a depletion of bullish momentum and foreshadows a sharp decline, the analysts add.
Meanwhile, BitGO CEO, Mike Belshe, "strongly" recommend companies to invest in the cryptocurrency. According to Belshe, the global pandemic has shown that some exposure to digital assets is actually a way to stabilize a business as opposed to destabilizing it.
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